JD.com: we are pleased to deliver another strong quarter of growth to kick off 2021

China’s e-commerce company, JD.com, Inc., has announced its unaudited financial results for the quarter ended March 31, 2021.

First Quarter 2021 Highlights

• Net revenues for the first quarter of 2021 were RMB203.2 billion (US$¹31.0 billion), an increase of 39.0% from the first quarter of 2020. Net service revenues for the first quarter of 2021 were RMB27.9 billion (US$4.3 billion), an increase of 73.1% from the first quarter of 2020.
• Income from operations for the first quarter of 2021 was RMB1.7 billion (US$0.3 billion), compared to RMB2.3 billion for the same period last year. Non-GAAP² income from operations for the first quarter of 2021 was RMB3.5 billion (US$0.5 billion), compared to RMB3.3 billion for the first quarter of 2020. Operating margin of JD Retail before unallocated items for the first quarter of 2021 was 4.0%, compared to 3.7%³ for the first quarter of 2020.
• Net income attributable to ordinary shareholders for the first quarter of 2021 was RMB3.6 billion (US$0.6 billion), compared to RMB1.1 billion for the same period last year. Non-GAAP net income attributable to ordinary shareholders for the first quarter of 2021 was RMB4.0 billion (US$0.6 billion), compared to RMB3.0 billion for the same period last year.
• Diluted net income per ADS for the first quarter of 2021 was RMB2.25 (US$0.34), compared to RMB0.72 for the first quarter of 2020. Non-GAAP diluted net income per ADS for the first quarter of 2021 was RMB2.47 (US$0.38), compared to RMB1.98 for the same period last year.
• Annual active customer accounts⁴ increased by 29.0% to 499.8 million in the twelve months ended March 31, 2021 from 387.4 million in the twelve months ended March 31, 2020.

“As we mark JD.com’s 18th anniversary, we are pleased to deliver another strong quarter of growth to kick off 2021,” said Richard Liu, Chairman and Chief Executive Officer of JD.com. “Since our establishment, JD’s focus on customers has set us apart and today we are proud that 500 million active users rely on JD’s broad selection of quality products and best-in-class customer services to support every aspect of their lives. JD is also increasingly the partner of choice for millions of businesses who benefit from our advanced supply-chain infrastructure to reduce costs and boost operating efficiency.”

“As our strong growth momentum from last year continued into the first quarter of 2021, we are also encouraged by the diversification of our revenue streams with an increasing contribution from service revenues.” said Sandy Xu, Chief Financial Officer of JD.com. “JD Retail’s operating margin further expanded during the quarter, as we continue to drive stronger operating leverage through technology and innovation.”